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All Forum Posts by: Elias Castillo

Elias Castillo has started 1 posts and replied 3 times.

Land & New Construction

Post: New construction lending

Elias CastilloPosted
  • Investor
  • Lubbock, TX
  • Posts 3
  • Votes 0

Yes sir, ill be interested 

0 Votes
Lubbock, Texas
Land & New Construction

Post: New construction lending

Elias CastilloPosted
  • Investor
  • Lubbock, TX
  • Posts 3
  • Votes 0
Quote from @Jason Taken:
Quote from @Elias Castillo:

Hey guys! I am currently finishing up a new construction single family home on a paid of residential lot. Once finished it’ll be 100% equity. Im shooting for it to be appraised around 135k im all in 85k . Any tips on cash out refinance? I have 4 more paid off lots I was thinking on building on. Its going to be an investment property.


You've go the right idea. Do you want a DSCR loan (long term debt) or short term debt on the refi?

I was thinking about a conventional loan on the property. The lender I spoke to mentioned it would be 75% of the appraised value. Im located in Lubbock, I haven't found a place that offers DSCR loans.

0 Votes
Lubbock, Texas
Land & New Construction

Post: New construction lending

Elias CastilloPosted
  • Investor
  • Lubbock, TX
  • Posts 3
  • Votes 0

Hey guys! I am currently finishing up a new construction single family home on a paid of residential lot. Once finished it’ll be 100% equity. Im shooting for it to be appraised around 135k im all in 85k . Any tips on cash out refinance? I have 4 more paid off lots I was thinking on building on. Its going to be an investment property.

0 Votes
Lubbock, Texas